The Greedy Trader Weekly Analysis
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Archive
- 8/11/2017
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iShares MSCI Canada Index
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Summary:
Weekly :Lane's Stochastic is overboughtPrice is near the Fibonacci 38.2% retracement level
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldPrice is close to the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the second negative week after 3 consecutive positive weeks for the iShares MSCI Canada Index (EWC). During the week, the EWC dropped -0.58 points, or -2.09%, and closed at 27.19 on Friday, August 11, 2017. Weekly volume was -9% below average.

Long-term trend: [See EWC long-term trend chart]
A long-term downtrend had started on April 6, 2011 at 34.57 and reached 18.07 on January 20, 2016. EWC lost 16.50 points, or 47.73%, in 250 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 16.09 and resistance is at 31.85. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See EWC medium-term trend chart]
A medium-term uptrend had started on May 18, 2017 at 25.58 and reached 28.15 on July 26, 2017. EWC gained -2.57 points, or -10.05%, in 9 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See EWC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since July 7, 2017. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See EWC short-term trend chart]
A short-term downtrend had started on July 26, 2017 at 28.15 and reached 27.12 on August 11, 2017. EWC lost 1.03 points, or 3.66%, in 16 days. The price is now at the 6.80% retracement level.

Daily Technical Indicators: [See EWC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since July 31, 2017. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 27.34
Williams' Percentage Range (W%R) 88.30
Oversold
Lane's Stochastic (%D-Slow) 17.42
Oversold
Greed/Fear Indicator (GFI) 18.80
Oversold
Moving Average Converg./Diverg. (MACD) 0.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.33
Williams' Percentage Range (W%R) 35.40
Lane's Stochastic (%D-Slow) 86.25
Overbought
Greed/Fear Indicator (GFI) 69.73
Moving Average Converg./Diverg. (MACD) 0.21
Trading Signals
Description Value Chart
Yearly Trendline Resistance 31.85
Upper Bollinger Band 27.98
Weekly Stochastic Crossing 27.81
Parabolic System 27.76
20 Day Moving Average 27.72
Daily Stochastic Crossing 27.24
Price 27.19
Lower Bollinger Band 27.08
50 Day Moving Average 27.06
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 27.98
High Date 08/03/2017
Low 27.12
Low Date 08/11/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 28.15
High Date 07/26/2017
Low 27.12
Low Date 08/11/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 25.58
Low Date 05/18/2017
High 28.15
High Date 07/26/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 18.07
Low Date 01/20/2016
High 28.15
High Date 07/26/2017
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 31.85
Support 16.09
High 34.57
High Date 04/06/2011
Low 18.07
Low Date 01/20/2016
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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